HomeCryptocurrencyNFT transactions are 160,000x more energy-intensive than VISA

NFT Transactions Are 160,000x More Energy-Intensive Than VISA

Last updated 13th Dec 2022

Non-fungible tokens or NFTs are the internet’s newest craze and fortunes are being made online through digital art sales.

Individual NFTs have sold for millions of dollars competing with physical art sales over the same time period.

However, the public seems divided when it comes to NFTs — one side believes NFTs are the future of art, and the other is not too impressed citing environmental concerns.

In this article, we at the Bankless Times decided to investigate the environmental impact of NFT transactions to find out more.

Here’s what we found…

Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.